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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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Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
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- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
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