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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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Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
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- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Australian Coal Association
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- The University of Queensland
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
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