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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, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
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- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- The University of Queensland
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
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