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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, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
Tuesday, 23 June 15
Q3 FOB INDONESIA COAL SWAP FALL $1.12 IN ONE MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
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- The University of Queensland
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
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