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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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Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
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- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
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