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