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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, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Xindia Steels Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
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