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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
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- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
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