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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, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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