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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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Tuesday, 11 August 15
GLOBAL PRODUCTION OF CRUDE STEEL REACHED A NEW ALL-TIME HIGH OF 1,661M TONNES IN 2014 - VDKI
COALpot.com: Global production of crude steel reached a new all-time high of 1,661m tonnes in 2014, said German Coal Importer Association, in its l ...
Tuesday, 11 August 15
2016 CFR S.CHINA COAL SWAPS CLOSED SLIGHTLY HIGHER THAN 4Q 2015 CLOSING PRICES; BUT NOT SIGNIFICANT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 10 (0.20%) per MT month over month.
A commodi ...
Monday, 10 August 15
SOUTH KOREAN UTILITY KOMIPO INVITES BITUMINOUS COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 560,000 Metric Tons (MT) of 4,600kcal/kg NAR c ...
Sunday, 09 August 15
THE PANAMAX MARKET HAS REMAINED WEAK THIS WEEK
COALspot.com: The freight market continued to be buoyant with cape index pushing the BDI.
The BDI was up 10.49% and closed at 1200 points on 7 ...
Friday, 07 August 15
COAL PRICE DEVELOPMENTS CAN ONLY BE DESCRIBED, SUCCINCTLY AS "OVERSUPPLY MEETS SUBDUED DEMAND" - VDKI
Coal Outlook 2015 – International
Regarding the outlook for global coal trading, two questions arise: firstly, “ whether the years of ...
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- The University of Queensland
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
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