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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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Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
Thursday, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
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- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
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