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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
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