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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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Monday, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Wilmar Investment Holdings
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- White Energy Company Limited
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
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