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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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Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
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- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
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