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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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Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
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Showing 1766 to 1770 news of total 6871 |
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- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
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