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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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Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
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- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
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