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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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Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
Monday, 13 July 15
THE DRY BULK MARKET CLOSED ON A POSITIVE TONE THIS PAST WEEK
COALspot.com: Despite Greece crisis and turmoil in the stock market across the world , the freight market overall was firm and up in all segments t ...
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- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Australian Coal Association
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
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