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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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Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
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- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Planning Commission, India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
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