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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, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
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- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
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