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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, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
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- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
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