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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, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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Showing 2466 to 2470 news of total 6871 |
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- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- White Energy Company Limited
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
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