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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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Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
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- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Planning Commission, India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
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