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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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Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Australian Coal Association
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
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