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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, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX i ...
Monday, 24 November 14
Q1 2015 FOB NEWCASTLE COAL SWAP CLOSED AT $ 52.73
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.73 on 21 November after losing US$ 0.40 (-0.75%) month ove ...
Monday, 24 November 14
CFR SOUTH CHINA COAL: Q2' 15 COAL SWAPS CLOSED LOWER COMPARED TO Q1' 15 SWAPS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 0.63 (-0.99%) month over month and US$ 0.12 (-0.19%) da ...
Sunday, 23 November 14
SPOT FREIGHT RATES IMPROVED SLIGHTLY OVER PREVIOUS WEEK
COALspot.com: The BDI was up 5.41 pct week on week and closed at 1,324 points on Friday. All the segments were up this week except Panamax index.&n ...
Sunday, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
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- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
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