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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, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
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- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
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