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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, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
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- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
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