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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, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Planning Commission, India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
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