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Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference between the current workload and the one expected a few months down the line. Indeed, shipyards around the world are going through a relatively slack beginning of the year, which includes also includes backlog from the end of 2018, while at the same time they are expecting the start of one of the busiest periods for ship repair sector within the next couple of months. The workload, which is anticipated to be well above the working capacity of yards, is estimated to last till mid-2020.
After almost 4 years of recession in ship repair sector, we are looking at an obvious upturn which is going to pencil a full year and a half of clear benefit to the shipyards. Additionally, shipyards are looking into allocating their work force into the most efficient way, securing the slots for repeated customers and trying to select projects which will give them maximum returns.
Knowing that the boosting factor for the booming repair market derives from the scrubber retrofit wave, the main challenges for the yards are the specialized piping workforce required and of course the long-lasting occupancy of shipyard’s berthing facilities. With regards to the piping workforce, respective certified pipe workers with relatively adequate workmanship are required in order to ensure the success of the respective project. If this requirement is not met, Owners will most likely face delays during installation and post refit malfunctions.
While accessing the overall trend for scrubber retrofits, demand for further retrofits has slowed down, with the number of owners investing in retrofits pretty much defined. Owners that have already purchased scrubber units are those giving almost the full picture of the current scrubber market, which is not likely to expand a lot. Nevertheless, those Owners already involved are still considering
retrofitting more of their ships based on speculation or charterer demands.
Once more, projections in regards to the fuel price spread are also highly diversified. Following the conservative side, some predict the fuel spread price will become more and narrower. The one thing that hasn’t changed is the commitment made by Oil Majors that they will be ready by 2020, but without disclosing the exact technicalities on how they will achieve a stable fuel. This is adding into the uncertainty in regards to the range of the fuel price spread.
After the decision of the Singaporean and Chinese port authorities to not accept open loop scrubbers, another option Owners are taking into consideration is the hybrid or closed loop scrubbers. However, with hybrid scrubber retrofits being a much more expensive solution when it comes both to OPEX and CAPEX compared to open loop, Owners are trying to avoid this more complicated and expensive investment. A good choice for Owners remains the hybrid-ready scrubbers, which can be converted to hybrid in case of need but initially are planned to be used as open loop, having this way all the advantages of the open loop.
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
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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), ...
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- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
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