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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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
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- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Planning Commission, India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
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