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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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Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
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- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
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