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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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Thursday, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
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Showing 1996 to 2000 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
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