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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, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
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- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Minerals Council of Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Australian Coal Association
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
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