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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.
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Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED 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, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- ICICI Bank Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
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