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