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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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Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
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Showing 1621 to 1625 news of total 6871 |
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- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- The University of Queensland
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- White Energy Company Limited
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Minerals Council of Australia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- PTC India Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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