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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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Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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Showing 1286 to 1290 news of total 6871 |
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- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- The University of Queensland
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
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