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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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Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
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- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
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