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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, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
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- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- White Energy Company Limited
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
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