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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, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
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Showing 1821 to 1825 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- The University of Queensland
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Economic Council, Georgia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
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