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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, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
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