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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, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
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- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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