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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, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
Tuesday, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
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- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
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