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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, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
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- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
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