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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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Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
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Showing 1431 to 1435 news of total 6871 |
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- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
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