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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, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
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- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
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