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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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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV 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 coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
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