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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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Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
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- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
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