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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, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
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