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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, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
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