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