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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
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