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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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- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
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