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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
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