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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, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY 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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
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- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
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