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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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Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
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