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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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Tuesday, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
Wednesday, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
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- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
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