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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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Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
Friday, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
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- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Planning Commission, India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
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