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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, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
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- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
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