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.
|
|
Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
|
|
|
Showing 1 to 5 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
|
| |
| |
|
1 