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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, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Aditya Birla Group - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
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