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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, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
Thursday, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
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- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Planning Commission, India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
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