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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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Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
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