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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, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
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- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- PTC India Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
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