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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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Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Planning Commission, India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
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