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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, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
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- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- The University of Queensland
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
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