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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Minerals Council of Australia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Australian Coal Association
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
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