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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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Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
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
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
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