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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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Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
Monday, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
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Showing 1966 to 1970 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
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