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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, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
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