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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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Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
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- Parry Sugars Refinery, India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- The University of Queensland
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
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