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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
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