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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, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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Showing 3716 to 3720 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
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