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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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Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
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- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
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