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