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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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Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
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- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- PTC India Limited - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
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