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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, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
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- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- PTC India Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
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