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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, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- PTC India Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
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