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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, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
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- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
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