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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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Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
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Showing 2616 to 2620 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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