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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, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
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- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Malabar Cements Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
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