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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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Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
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