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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, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
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