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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, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : 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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- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
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