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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, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
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- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
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