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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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Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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Showing 3726 to 3730 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
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