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