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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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Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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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- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
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