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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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Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Therma Luzon, Inc, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
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