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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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Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
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