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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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Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
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- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
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