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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, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
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- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- PTC India Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
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