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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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Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
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