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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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Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
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