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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, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
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- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
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