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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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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- The University of Queensland
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
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