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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, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
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- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- PTC India Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
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