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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, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
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