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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, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
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- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
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