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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
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