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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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Monday, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
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- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
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