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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, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Australian Coal Association
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
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