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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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Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
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- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
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