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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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Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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Showing 3366 to 3370 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
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