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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, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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Showing 3106 to 3110 news of total 6871 |
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- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
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