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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, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Parliament of New Zealand
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
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