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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, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
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- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
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