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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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Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Australian Coal Association
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
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