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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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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
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