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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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Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- The University of Queensland
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
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