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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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Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
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- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Minerals Council of Australia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
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