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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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Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
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