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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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- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Parliament of New Zealand
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Planning Commission, India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
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