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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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Thursday, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and ...
Tuesday, 01 September 15
FOB INDONESIA COAL SWAPS FURTHER SLIDE TO US$ 40.62 PMT; DECLINE 5.34 PERCENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and slightly dropped week over week.
The 4Q swap was declined ...
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- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
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