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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, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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