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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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Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
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