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