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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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Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
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- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
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