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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, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
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