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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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Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
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- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
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