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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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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
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