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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, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
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- Heidelberg Cement - Germany
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- VISA Power Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
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