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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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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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Showing 1616 to 1620 news of total 6871 |
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- Bhushan Steel Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
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