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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, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
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- The University of Queensland
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
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