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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, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
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