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