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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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Friday, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
Thursday, 18 June 15
MERCATOR'S KAMSARMAX FIXED WITH CLEARLAKE
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company focused on markets such as India, ...
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- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
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