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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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Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
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