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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, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
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Showing 1716 to 1720 news of total 6871 |
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- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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