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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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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
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