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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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Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
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- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
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