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Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipyards stretching their capacity to the maximum possible. Their only task, to accommodate as many projects as possible despite the prevailing restrictions on berthing capacity, craneage lifting capacity and resources. At the same time, the mentality of owners has already adapted to the ‘new era’ with the majority of them demonstrating the maximum possible flexibility to help their projects move forward. Therefore, in most cases, projects are completed with Owner’s resilience on the retrofit time, on vessel’s ETA and at the initial overall budget.
Taking a closer glance to the Far East shipyards, we see that those are the one to encounter the heaviest workload worldwide. The reason of course is the ongoing scrubber retrofits, with Owners giving preference to Far East for their retrofits due to trading patterns for big size vessels and competitive retrofit rates. Therefore, we do have a clearly define orderbook for most of the shipyards there till July 2020, leaving limited remaining slots available.
Owners experiencing the worst impact of this congestion are those with small routine drydocks, which are the least sought after business by yards, as well as those owners that additionally have to proceed with the installation of the BWMS and are now being restricted by Charterers in regards to which area they can release their vessels, limiting their choice of yard as a result. Shipyards as a matter of fact are holding their valuable slots for projects with higher profit margin while also trying to sell the remaining slots at a premium.
Due to the above situation it is quite common to see vessels waiting for a week or more before entering the yard or being quadruple bank berthed waiting to be served. In some cases, Owners have been also considering repair shipyards or places which were previously considered non competent, as an ultimate effort to find a slot.
Another unexpected factor which has created an even bigger tremble into the repair market recently is the surge in VLCC freight rates. This has created a unilateral effort by Owners to postpone their scheduled dry docking or retrofits, in order to get the full benefit of the very firm market, which is obvious that won’t last long. These postponements come with very short notice and are expected to cause an even bigger bottleneck during the forthcoming Chinese New Year.
Psychological theory holds that early in life many people make personal and professional choices that conform to the expectations of their parents, friends and society, whereas in their middle years many feel a pressing need for individuation, or breaking free from these expectation and start rewriting their lives’ path. We could say that most yards are now going through a similar midlife crisis, with most of them moving away from the very specific mandate the ship repair market had up until recently and trying to pencil out an independent policy, vision, pricing and market share from what they were obliged to follow in the past.
By Vassilis Vassiliou
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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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Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
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- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
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