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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, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
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