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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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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- PTC India Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
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