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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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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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Showing 1436 to 1440 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- The Treasury - Australian Government
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