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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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- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
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