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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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Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
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- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
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