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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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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
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