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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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Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
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- Georgia Ports Authority, United States
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Planning Commission, India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
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