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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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Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
...
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- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Planning Commission, India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
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