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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- The University of Queensland
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
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