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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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Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
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