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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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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Showing 1591 to 1595 news of total 6871 |
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- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- SMC Global Power, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
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