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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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Tuesday, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
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