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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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Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- MS Steel International - UAE
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
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