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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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Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
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Showing 1451 to 1455 news of total 6871 |
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- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
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