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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.
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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
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