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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
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