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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, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
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- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
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