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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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Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
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