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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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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
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