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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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Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
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Showing 2016 to 2020 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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