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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
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