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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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- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Bhatia International Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
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