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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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Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
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- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
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