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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, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Siam City Cement - Thailand
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
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