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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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Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
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- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
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