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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, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
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