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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, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
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Showing 2051 to 2055 news of total 6871 |
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- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Australian Coal Association
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
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