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