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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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Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
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