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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Australian Coal Association
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
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