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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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Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
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