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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
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- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- ASAPP Information Group - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
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