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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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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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Showing 1586 to 1590 news of total 6871 |
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- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
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