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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, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
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- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
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