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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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Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
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Showing 1526 to 1530 news of total 6871 |
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- Aditya Birla Group - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- The University of Queensland
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
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