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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, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
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- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Minerals Council of Australia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
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