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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, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
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