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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, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
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