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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
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