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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, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
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- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Australian Coal Association
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
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