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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, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
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Showing 2071 to 2075 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
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