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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, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
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- Vedanta Resources Plc - India
- The University of Queensland
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Eastern Coal Council - USA
- White Energy Company Limited
- MS Steel International - UAE
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
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