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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, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
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