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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, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
Friday, 05 June 15
U.S PRODUCED 15.1 MMST OF COAL THIS PAST WEEK; LESS 20.7% COMPARED TO SAME PERIOD IN 2014
COALspot.com – United States the second largest coal producer in the world has produced approximately totalled an estimated 15.1 million shor ...
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- ASAPP Information Group - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
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