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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, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
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- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
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