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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, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
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