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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
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