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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, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
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- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Planning Commission, India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Ministry of Finance - Indonesia
- VISA Power Limited - India
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