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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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Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
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- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
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