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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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Tuesday, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
Wednesday, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
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- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
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