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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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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
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