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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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Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
Monday, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
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Showing 2211 to 2215 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
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