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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
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PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
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WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
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SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
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WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
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- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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