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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, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
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- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
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