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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, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
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- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- London Commodity Brokers - England
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Planning Commission, India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
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