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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 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, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
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