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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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Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
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- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
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