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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
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Showing 1526 to 1530 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- PTC India Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
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