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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
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- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
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