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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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Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
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