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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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Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Planning Commission, India
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