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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
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