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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, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
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- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
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