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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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Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- The University of Queensland
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
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