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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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Monday, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
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