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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, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
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