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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, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
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Showing 3826 to 3830 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
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