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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, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
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- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- PTC India Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
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