We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
 While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The next year, 2023, is going to come with the pandemic being almost completely out of the picture. The effect of inflation on ship repair costs will start being harmonized and balanced after major corrections are made in all aspects throughout the year passed. The altered shipping routes and consequently the increased demand for ship repair facilities in some areas like Europe will finally find the yards ready for more projects. It is obvious that the mentality toward Green Technology adaption is more mature than ever before. We are expecting more projects and trends implementing environmentally friendly solutions and technology. And finally, the ballast water management system retrofit era is coming to an end, after more than a decade of discussions. But let us elaborate on some of the above to a bigger extent.
Closing this year, we noticed all respective costs related to materials procurement like steel, copper, and energy consuming works like grid and hydro blasting to be highly inflated. As a result, there was a big disruption in many big-scale projects on which basic cost derives from this kind of work and on projects prices of which were agreed a long time before.
Historically, the shipyard’s position during a heavily inflated market was always challenging. Shipyard on the one side has to manage the continuously increasing cost from the supplier’s side and on the other hand to manage the expectation of the Shipping Companies for stable fixed prices with contracts agreed much ahead of vessel’s arrival to the yard.
Moving to the next topic, nowadays, apart from the ongoing environmental regulatory framework, there is an increased tendency shipyards worldwide to adapt more environmentally friendly procedures and methods regarding the disposal of used / hazardous materials and ship repair techniques. Widely known is the complete transformation some yards have penciled from grid-blasting to hydro or slurry blasting for controlling or eliminating the grid dust. The result of the yards implementing green solutions is repair cost and time increment. Unfair competition is obviously a common result between those greener shipyards with those able to maintain old regime methods.
Another environmental trend reviving is the scrubber retrofit. There are already some orders in place for more scrubber retrofits, after a totally slack year on scrubbers. As we have seen in the past, the interest could escalate fast creating a second wave for scrubber retrofits. It only takes a few major shipping companies to declare supporters of such retrofits. On the other hand, shipyards and scrubber makers are now ready to absorb a sudden demand and therefore we do not expect similar to the past shipyard’s clogging.
With regards to shipyards’ workload for the next year to come, we expect all yards in Europe, Med, and the Black Sea to remain ultra-busy. Yards in the area will try to control their costs and profit margin by being selective on the awarded projects. This will be a good opportunity for new entries to try to be established and share a bigger portion of the repair business. Moving toward to the Far East, some first-class shipyards will start getting busy again with specialized projects since offshore business is back in action. China is planning a long time now to fully re-open. We expect that to be materialized soon after CNY.
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The next year, 2023, is going to come with the pandemic being almost completely out of the picture. The effect of inflation on ship repair costs will start being harmonized and balanced after major corrections are made in all aspects throughout the year passed. The altered shipping routes and consequently the increased demand for ship repair facilities in some areas like Europe will finally find the yards ready for more projects. It is obvious that the mentality toward Green Technology adaption is more mature than ever before. We are expecting more projects and trends implementing environmentally friendly solutions and technology. And finally, the ballast water management system retrofit era is coming to an end, after more than a decade of discussions. But let us elaborate on some of the above to a bigger extent.
Closing this year, we noticed all respective costs related to materials procurement like steel, copper, and energy consuming works like grid and hydro blasting to be highly inflated. As a result, there was a big disruption in many big-scale projects on which basic cost derives from this kind of work and on projects prices of which were agreed a long time before.
Historically, the shipyard’s position during a heavily inflated market was always challenging. Shipyard on the one side has to manage the continuously increasing cost from the supplier’s side and on the other hand to manage the expectation of the Shipping Companies for stable fixed prices with contracts agreed much ahead of vessel’s arrival to the yard.
Moving to the next topic, nowadays, apart from the ongoing environmental regulatory framework, there is an increased tendency shipyards worldwide to adapt more environmentally friendly procedures and methods regarding the disposal of used / hazardous materials and ship repair techniques. Widely known is the complete transformation some yards have penciled from grid-blasting to hydro or slurry blasting for controlling or eliminating the grid dust. The result of the yards implementing green solutions is repair cost and time increment. Unfair competition is obviously a common result between those greener shipyards with those able to maintain old regime methods.
Another environmental trend reviving is the scrubber retrofit. There are already some orders in place for more scrubber retrofits, after a totally slack year on scrubbers. As we have seen in the past, the interest could escalate fast creating a second wave for scrubber retrofits. It only takes a few major shipping companies to declare supporters of such retrofits. On the other hand, shipyards and scrubber makers are now ready to absorb a sudden demand and therefore we do not expect similar to the past shipyard’s clogging.
With regards to shipyards’ workload for the next year to come, we expect all yards in Europe, Med, and the Black Sea to remain ultra-busy. Yards in the area will try to control their costs and profit margin by being selective on the awarded projects. This will be a good opportunity for new entries to try to be established and share a bigger portion of the repair business. Moving toward to the Far East, some first-class shipyards will start getting busy again with specialized projects since offshore business is back in action. China is planning a long time now to fully re-open. We expect that to be materialized soon after CNY.
By Vassilis Vassiliou
Interyards
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
|
|
|
Showing 151 to 155 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- PTC India Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
|
| |
| |
|
