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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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Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
Monday, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
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- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
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