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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, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
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- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- PTC India Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
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