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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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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- The University of Queensland
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
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