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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, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
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- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
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