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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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Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
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