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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, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
Friday, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
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Showing 1776 to 1780 news of total 6871 |
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- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
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