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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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Wednesday, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
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Showing 2611 to 2615 news of total 6871 |
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- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
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