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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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Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
Friday, 22 May 15
FOB INDONESIA COAL Q3'15 SWAP FINISHED THE WEEK UP 38 CENTS TO $43.65 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, past week.
The Q3 swap was declined US$ ...
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- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
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