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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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Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- The University of Queensland
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
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