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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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Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
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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- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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