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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Minerals Council of Australia
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