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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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Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
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