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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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Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
Thursday, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
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- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
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