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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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Thursday, 30 January 20
PRIVATE SECTOR COMPANIES SEEK 'LEVEL PLAYING FIELD' FOR COAL BLOCK AUCTION - PTI
Private sector companies scouting opportunities for commercial coal mining in the country are seeking a “level playing field” to encour ...
Thursday, 30 January 20
CAPE: WITH CHINESE NEW YEAR TAKING PLACE, THE RATES ARE REACHING FURTHER DISAPPOINTING LEVELS - FEARNLEYS
Cape
With Chinese New Year taking place, the rates are reaching further disappointing levels. Present TC average is below USD 4,500, off 24% fr ...
Wednesday, 29 January 20
INDONESIA REMAINS AT THE TOP SPOT IN 2019 AS THE LARGEST SUPPLIER OF COAL TO INDIA WITH 91.3 MLN TONNES - BANCHERO COSTA
Despite repeated promises from India’s government to reduce the country’s coal imports and increase domestic self-reliance, volumes jus ...
Wednesday, 29 January 20
MARKET INSIGHT - INTERMODAL
Last week Libya’s oil production operations were disrupted as it was reported that local Libyan tribes interrupted output at the the El Feel ...
Tuesday, 28 January 20
INDONESIA - UNCERTAINTY OVER AVAILABILITY OF LSFO - THE STANDARD CLUB
The club has received reports that low sulphur fuel is not currently readily available in all Indonesian ports and that there are local shortages.
...
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- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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