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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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Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
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