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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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Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
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- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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