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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, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
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- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
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