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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, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
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- The Treasury - Australian Government
- ICICI Bank Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
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