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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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Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
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- Posco Energy - South Korea
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Planning Commission, India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
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