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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, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
Tuesday, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
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- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
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