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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
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- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
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