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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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Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
Thursday, 12 July 18
SUPRAMAX: INDO/CHINA COAL RV IS BEING FIXED AROUND USD 10500 BSS SINGAPORE - FEARNLEYS
Capesize
Cape market continue to be extremely volatile says Fearnleys in its latst weekly report.
The further noted that, last week ended wi ...
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- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- CNBM International Corporation - China
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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