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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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Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
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