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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
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