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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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Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
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