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