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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, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
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