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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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Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Australian Coal Association
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
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