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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, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
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