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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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Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
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