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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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Tuesday, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
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