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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, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
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- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
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