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