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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, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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Showing 1601 to 1605 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
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