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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, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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Showing 2551 to 2555 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
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