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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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Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
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