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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, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
Tuesday, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
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Showing 1981 to 1985 news of total 6871 |
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- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
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