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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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Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
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