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