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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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Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
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