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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, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
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- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
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