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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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Monday, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
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Showing 1741 to 1745 news of total 6871 |
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- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Deloitte Consulting - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Parliament of New Zealand
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
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