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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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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
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