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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, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
...
Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
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Showing 1646 to 1650 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- PTC India Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
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