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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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Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
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