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