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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, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Australian Coal Association
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
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