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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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Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
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Showing 2511 to 2515 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
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