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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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- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
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