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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, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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Showing 1751 to 1755 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- VISA Power Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
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