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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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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- PTC India Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
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