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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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Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
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- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
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