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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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Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
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- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
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