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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, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
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- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
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