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