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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, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
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- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
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