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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, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
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