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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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Monday, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
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- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
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