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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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Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
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- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
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