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