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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.
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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
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