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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
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- CNBM International Corporation - China
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
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