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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
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