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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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Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
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Showing 1916 to 1920 news of total 6871 |
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- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
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