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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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Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
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