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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, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
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- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
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