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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
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