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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.
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Friday, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
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- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- The University of Queensland
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
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