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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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Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Australian Coal Association
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
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