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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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Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
Thursday, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
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- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
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