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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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Wednesday, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
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