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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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Friday, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
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- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
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