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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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Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
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