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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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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
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Showing 1506 to 1510 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
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