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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- The University of Queensland
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
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