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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, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
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Showing 3196 to 3200 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- The University of Queensland
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Australian Coal Association
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
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