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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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Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
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- PTC India Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
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