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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, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
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- PTC India Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
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