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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, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
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Showing 1786 to 1790 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- The University of Queensland
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
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