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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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Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
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NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
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- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
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