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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, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
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Showing 1621 to 1625 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
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