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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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Thursday, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
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- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Aditya Birla Group - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- The University of Queensland
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
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