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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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Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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Showing 1631 to 1635 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
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