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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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Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
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- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
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