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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, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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Showing 1441 to 1445 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
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