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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, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
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- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
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