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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, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- PTC India Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- The University of Queensland
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
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