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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, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
Thursday, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
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- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
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