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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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Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
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- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Australian Coal Association
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
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