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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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Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
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