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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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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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Showing 1586 to 1590 news of total 6871 |
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- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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