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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, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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