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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
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Showing 2506 to 2510 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
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