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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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Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
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Showing 1681 to 1685 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- MS Steel International - UAE
- The University of Queensland
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
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