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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, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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- Deloitte Consulting - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
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