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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, 05 August 15
COAL CONSUMPTION POSTED THE STRONGEST GROWTH AMONG THE FOSSIL ENERGY SOURCES IN 2014 - VDKI
Coal 2014: again the world's fastest-growing primary energy source and an indispensable asset for the success of the energy turnaround.
Ac ...
Wednesday, 05 August 15
FOB INDONESIA THERMAL COAL SWAPS FALL
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past ...
Tuesday, 04 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO FALL DUE TO SLIDING DEMAND
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
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- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
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- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- SMG Consultants - Indonesia
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- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Australian Coal Association
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
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