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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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Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
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- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
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