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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, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- The University of Queensland
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
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