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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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Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
Monday, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
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Showing 1306 to 1310 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Planning Commission, India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- The University of Queensland
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
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