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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, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Coalindo Energy - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
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