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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, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
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Showing 3651 to 3655 news of total 6871 |
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- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- The University of Queensland
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
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