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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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Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
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Showing 1966 to 1970 news of total 6871 |
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- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- The University of Queensland
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
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