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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, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
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