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Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
 The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till the first half of the year. Compared to the very silent first half of the previous year, there is an enormous increase in the demand for dry-docking slots, which is more than justified. Apart from the obvious, i.e. that the physical number of vessels due for special survey is greater compared to last year past, we have also observed that some non-Greek shipping companies have the tendency to bring the dry-docking schedule earlier to avoid the imminent implementation of the ballast water management regulations.
On the other hand, as far as Greek shipping companies are concerned, this strategy has not found solid ground, as the great majority of the Owners have agreed to proceed with the de-harmonization of the IOPP certificate, as a way to avoid the BWMS regulation altogether. The first wave of the high demand for ship repairs came during the Chinese New Year. This was mainly due to the lack of good employment options for a number of dry bulk owners trading spot at that time, who took the advantage of the low market by using that period to repair their vessels.
Despite the increased demand for dry-docking slots, shipyards pricing policies have not changed. Price levels are maintained almost at the same record-low level as the year before. In some cases, shipyards’ prices have slightly increased their prices, but even in those cases the increase has not been proportional to the spike in slot demand. As a general observation therefore we can say that shipyards didn’t manage to get the full advantage of the increased demand during Q1 2017 and that since the repair market prices remain at record low levels, they still offer an excellent opportunity for repairs. Additionally, It is anticipated the second half of the year will be smoother, with the shipyards’ workload slightly lower compared to now.
As far as the Greek market is concerned, Chinese yards remain on top of Owners’ choice, with one out of two Greek vessels being repaired in that area. While the first-class Chinese shipyards are focusing in big projects and tanker vessels, the most ‘value for money’ Chinese shipyards offering are those to fill all of their slots first, giving by rule of thumb a 40 days’ notice requirement for a slot. Thus, the gap is filled by the medium, less-known shipyards, with relatively short reference list of foreign vessels, which are directly benefiting from the repair congestion. Those shipyards during the slack period of 2016 where unknown to the majority of ship-owners but they are now building up their reputation.
The investments on the repair facilities worldwide are at the same time moving onwards. There are several additional dry-docks to be delivered during 2017 in Turkey area. With last year’s speculations proving correct, Hyundai Heavy Industries has announced that their fifth dock at Ulsan will be used for repair works. In addition, a new repair shipyard is about to start operations in the Zhoushan area in China. All those expansions are about to put an extra pressure to the repair market sector, which will promote competition to higher levels and will squeeze further the repair prices.
Last but not least, the repair market, being always heavily concentrated on the IMO implementation of the Ballast Treatment System convention, is waiting the next convention (MEPC 71) to be materialized and to give further answers, the date of which was again pushed back, and is now expected to take place at the beginning of July 2017.
By Vassilis Vassiliou
Ship-repair Broker, Interyards S. A.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
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, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
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Showing 1941 to 1945 news of total 6871 |
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- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
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