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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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Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
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- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- The University of Queensland
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
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