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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Minerals Council of Australia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- PTC India Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
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