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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, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 14 December 15
CFR SOUTH CHINA COAL SWAP IS STILL SLIDING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 0.93(2.18%) per ton month over month.
A commodity swap ...
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- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
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