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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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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- The University of Queensland
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
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