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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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Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
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- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- The University of Queensland
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
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