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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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Thursday, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
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- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Australian Coal Association
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
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