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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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Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
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Intercontinental Jakarta Midplaza,
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Web Site
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Monday, 25 August 14
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By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
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INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Australian Coal Association
- Minerals Council of Australia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
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