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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, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
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- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
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