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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 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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Showing 2641 to 2645 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Interocean Group of Companies - India
- PTC India Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
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