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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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Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
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Showing 2026 to 2030 news of total 6871 |
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- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
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