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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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Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
Friday, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
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- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
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