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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.
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Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
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