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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, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
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