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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, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
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- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
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