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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, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
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