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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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Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Australian Coal Association
- White Energy Company Limited
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
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