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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, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
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