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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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Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
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- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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