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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, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Posco Energy - South Korea
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
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