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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, 18 July 14
3RD CHINA INTERNATIONAL SHALE GAS SUMMIT
Building on the massive success of the past 2 shale gas programs that has generated huge success by attracting 500+ industry players, and intrig ...
Friday, 18 July 14
US WEEKLY COAL PRODUCTION UP BY 1.4% TO 18.3 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 17 July 14
PANAMAX : MARKET HAS COOLED DOWN AGAIN TO LOW AND DEPRESSED LEVELS
Handy
The supra market remains pretty flat in the Atlantic while for the smaller sizes there has been little reported with ships chasing business ...
Thursday, 17 July 14
INDIAN GOVERNMENT WISE TO TAKE ADVANTAGE OF CURRENTLY LOW THERMAL COAL PRICES AND SHIPPING RATES - JEFFREY LANDSBERG
With thermal coal import prices (and also shipping rates) very low at present, India's government would be very wise to take advantage of curre ...
Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
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- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
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