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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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Tuesday, 10 July 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
The trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken ...
Tuesday, 10 July 18
SUPPORTING SULPHUR 2020 CONSISTENT IMPLEMENTATION - IMO
An IMO working group is meeting (9-13 July) to develop guidelines to support the consistent implementation of the 0.50% limit for the sulphur conte ...
Monday, 09 July 18
RISING COAL PRICES LIFTING AUSTRALIA'S EXPORT REVENUES BUT INVESTORS STAYING AWAY - NEWCASTLE HERALD
Newcastle coal prices have risen more than 40 per cent in a year to be at their highest levels for seven years but the industry is becoming increas ...
Saturday, 07 July 18
SUPRAMAX: THE ASIAN MARKET STRUGGLED; A 57K-DWT WAS REPORTED FIXED BASIS DELIVERY SINGAPORE FOR A TRIP VIA INDONESIA REDELIVERY INDIA AT $12K
Capesize
A punchy week for the big ships that saw Atlantic rates soar, with the tonnage list tight prompting charterers to split cargoes, thoug ...
Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
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- Planning Commission, India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
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