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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, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
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- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Planning Commission, India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- White Energy Company Limited
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
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