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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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Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
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