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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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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
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