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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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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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Showing 1616 to 1620 news of total 6871 |
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- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
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