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Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipyards stretching their capacity to the maximum possible. Their only task, to accommodate as many projects as possible despite the prevailing restrictions on berthing capacity, craneage lifting capacity and resources. At the same time, the mentality of owners has already adapted to the ‘new era’ with the majority of them demonstrating the maximum possible flexibility to help their projects move forward. Therefore, in most cases, projects are completed with Owner’s resilience on the retrofit time, on vessel’s ETA and at the initial overall budget.
Taking a closer glance to the Far East shipyards, we see that those are the one to encounter the heaviest workload worldwide. The reason of course is the ongoing scrubber retrofits, with Owners giving preference to Far East for their retrofits due to trading patterns for big size vessels and competitive retrofit rates. Therefore, we do have a clearly define orderbook for most of the shipyards there till July 2020, leaving limited remaining slots available.
Owners experiencing the worst impact of this congestion are those with small routine drydocks, which are the least sought after business by yards, as well as those owners that additionally have to proceed with the installation of the BWMS and are now being restricted by Charterers in regards to which area they can release their vessels, limiting their choice of yard as a result. Shipyards as a matter of fact are holding their valuable slots for projects with higher profit margin while also trying to sell the remaining slots at a premium.
Due to the above situation it is quite common to see vessels waiting for a week or more before entering the yard or being quadruple bank berthed waiting to be served. In some cases, Owners have been also considering repair shipyards or places which were previously considered non competent, as an ultimate effort to find a slot.
Another unexpected factor which has created an even bigger tremble into the repair market recently is the surge in VLCC freight rates. This has created a unilateral effort by Owners to postpone their scheduled dry docking or retrofits, in order to get the full benefit of the very firm market, which is obvious that won’t last long. These postponements come with very short notice and are expected to cause an even bigger bottleneck during the forthcoming Chinese New Year.
Psychological theory holds that early in life many people make personal and professional choices that conform to the expectations of their parents, friends and society, whereas in their middle years many feel a pressing need for individuation, or breaking free from these expectation and start rewriting their lives’ path. We could say that most yards are now going through a similar midlife crisis, with most of them moving away from the very specific mandate the ship repair market had up until recently and trying to pencil out an independent policy, vision, pricing and market share from what they were obliged to follow in the past.
By Vassilis Vassiliou
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
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- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
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