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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, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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Showing 1511 to 1515 news of total 6871 |
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- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
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