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