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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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Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
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