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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, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
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