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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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Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- White Energy Company Limited
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
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