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Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwide having already reached close to their maximum capacity as we are heading towards the end of the first half of the year. It goes without saying that this is mainly due to the already prescribed scrubber retrofit demand, while the peak of these deliveries from most of the scrubber manufacturers is starting this May onwards.
A lot of difficulties are expected to be encountered from the shipyards into delivering the scrubber retrofit projects on time given the expected workmanship and considering the big spectrum of uncertainties and complications. One of these uncertainties is the usually late delivery of most of the spare parts, i.e. equipment, cabling, exotic piping, sensors, big valves etc. which in most of the projects coincides with the critical step of the retrofit.
On top of the above there is also a chance of getting extra delays on other aspects such as the design engineering, the class approval the logistics as well as custom formalities. Moving forward, the ETA of most vessels is slightly slipping forward in order to cover these various delays, which is in turn creating a bottleneck in the yards that will require extra attention and forward planning from the shipyards as far as the summer months are concerned. Finally, some shipyards with a relatively big appetite have committed to accept more scrubber retrofits than they can actually accommodate, which will most probably result in additional delays. As a counter measure to withstand the overbooking, certain shipyards have leased floating cranes and extra manpower with a premium cost.
Reviewing the above situation, pricing levels for routine drydocks has become much less attractive compared to six months ago, while first class shipyards are not interested in small projects despite the price benefit. This has given a lot of space for second class shipyards to penetrate to new clientele and in some cases to deliver better than expected results.
Looking forward to the so called coming ‘Shipyard’s Era’ during which shipyards will benefit from the whole repair jam, there are speculations for a second wave of scrubbers shortly after the beginning of 2020, when the price spread between the low and high Sulphur fuel oil will be clearly defined and will reignite the scrubber retrofit interest of some companies currently standing by.
With regards to last week’s MEPC74 Committee, the topics that were covered were rather expected and without any surprises. The IMO has completed a list of guidelines aimed at ensuring consistent enforcement of the global sulfur cap, covering areas such as Post State control guidelines, fuel sampling onboard the ship, ongoing compliance in case of failure EGCS and delivery of compliant fuel by suppliers. An interesting part of the meeting was that in regards to GHG emission reduction, which the IMO agreed to keep on the table, although there is no actual progress so far, while speed reduction and speed optimization will considered in one of the three agendas to be worked on further at the next session.
By Vassilis Vassiliou
Ship-repair Broker
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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Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
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Showing 21 to 25 news of total 6846 |
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- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Minerals Council of Australia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
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