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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, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Planning Commission, India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- PTC India Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
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