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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, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
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Showing 1736 to 1740 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
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