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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, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
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- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Planning Commission, India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
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