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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, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
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- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
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