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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1851 to 1855 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
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