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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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Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
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- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
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