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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, 01 September 15
FOB RICHARDS BAY COAL SWAPS STILL SLIDING; Q2'16 DELIVERY LOST AROUND 6 PERCENT M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 gain week over week but declined month over month.
The 4Q swap was dow ...
Monday, 31 August 15
API 5 FOB NEWCASTLE COAL SWAP GAINS WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.85 per MT (-4.23%) month over month to US$ 41.87 per mt. The swap ...
Monday, 31 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP ENDS DOWN MORE THAN 4 PERCENT MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.91 (3.78%) per MT month over month.
A commodity ...
Sunday, 30 August 15
THE DRY BULK MARKET UNDOUBTEDLY REMAINS WEAK & VOLATILE THIS WEEK
COALspot.com: The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. Wh ...
Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
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- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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