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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, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
Sunday, 26 July 15
INDO-INDIA OCEAN COAL FREIGHT RATES REMAIN STEADY
COALspot.com: The freight market continued lost steam towards end of the week and all indices were showing downward trend.
The BDI was up by 3 ...
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- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Australian Coal Association
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
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