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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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Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
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- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
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