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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, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
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Showing 1991 to 1995 news of total 6871 |
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- Chamber of Mines of South Africa
- Planning Commission, India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- White Energy Company Limited
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
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