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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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Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
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- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
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