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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, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
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Showing 2516 to 2520 news of total 6871 |
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- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
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