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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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Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
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