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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, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
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- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- White Energy Company Limited
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
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