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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, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- White Energy Company Limited
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Minerals Council of Australia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
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