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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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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Aditya Birla Group - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
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