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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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Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
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