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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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Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Planning Commission, India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
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