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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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Showing 2366 to 2370 news of total 6871 |
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- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
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