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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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Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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