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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, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Minerals Council of Australia
- ICICI Bank Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- PTC India Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
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