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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, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Planning Commission, India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
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