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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
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- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
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