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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, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
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- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Australian Coal Association
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
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