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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, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
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