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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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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
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Showing 3506 to 3510 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
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