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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, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
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