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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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Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
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$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
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- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- PTC India Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
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