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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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Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- The University of Queensland
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Minerals Council of Australia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
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