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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, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
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