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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, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
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Showing 1886 to 1890 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
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