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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
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