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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, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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Showing 1516 to 1520 news of total 6871 |
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- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
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