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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Economic Council, Georgia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
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