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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, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K 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 ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
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