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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, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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Showing 2411 to 2415 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
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