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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, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST 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 ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
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