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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
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