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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 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
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 ...
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- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- The University of Queensland
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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