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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, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
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- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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