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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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Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
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- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
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