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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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Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
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- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Latin American Coal - Colombia
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