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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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Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
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Showing 1951 to 1955 news of total 6871 |
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- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
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