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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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Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
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- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
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