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Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference between the current workload and the one expected a few months down the line. Indeed, shipyards around the world are going through a relatively slack beginning of the year, which includes also includes backlog from the end of 2018, while at the same time they are expecting the start of one of the busiest periods for ship repair sector within the next couple of months. The workload, which is anticipated to be well above the working capacity of yards, is estimated to last till mid-2020.
After almost 4 years of recession in ship repair sector, we are looking at an obvious upturn which is going to pencil a full year and a half of clear benefit to the shipyards. Additionally, shipyards are looking into allocating their work force into the most efficient way, securing the slots for repeated customers and trying to select projects which will give them maximum returns.
Knowing that the boosting factor for the booming repair market derives from the scrubber retrofit wave, the main challenges for the yards are the specialized piping workforce required and of course the long-lasting occupancy of shipyard’s berthing facilities. With regards to the piping workforce, respective certified pipe workers with relatively adequate workmanship are required in order to ensure the success of the respective project. If this requirement is not met, Owners will most likely face delays during installation and post refit malfunctions.
While accessing the overall trend for scrubber retrofits, demand for further retrofits has slowed down, with the number of owners investing in retrofits pretty much defined. Owners that have already purchased scrubber units are those giving almost the full picture of the current scrubber market, which is not likely to expand a lot. Nevertheless, those Owners already involved are still considering
retrofitting more of their ships based on speculation or charterer demands.
Once more, projections in regards to the fuel price spread are also highly diversified. Following the conservative side, some predict the fuel spread price will become more and narrower. The one thing that hasn’t changed is the commitment made by Oil Majors that they will be ready by 2020, but without disclosing the exact technicalities on how they will achieve a stable fuel. This is adding into the uncertainty in regards to the range of the fuel price spread.
After the decision of the Singaporean and Chinese port authorities to not accept open loop scrubbers, another option Owners are taking into consideration is the hybrid or closed loop scrubbers. However, with hybrid scrubber retrofits being a much more expensive solution when it comes both to OPEX and CAPEX compared to open loop, Owners are trying to avoid this more complicated and expensive investment. A good choice for Owners remains the hybrid-ready scrubbers, which can be converted to hybrid in case of need but initially are planned to be used as open loop, having this way all the advantages of the open loop.
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.
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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Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Central Electricity Authority - India
- The University of Queensland
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
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