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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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Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
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- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
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