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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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Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
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- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- VISA Power Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Minerals Council of Australia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
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