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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- White Energy Company Limited
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
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