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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- The University of Queensland
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
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