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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, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
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Showing 2046 to 2050 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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