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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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Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
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- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
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