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