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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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Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
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Showing 2536 to 2540 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
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