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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, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
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- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
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