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Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
 Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of different speculations on how the repair market will react to the upcoming regulations and the ongoing relatively low freights. The parameters of a successful repair plan are increasing in numbers and complexity, while Owners are trying to have the most potential trading options available for the charterers.
The still ‘immature’ deadline – September 2017 – posted by IMO on the implementation of the Ballast Treatment System convention is reminding us the dry-dock congestion faced two years ago, when the US Coast guard was exercising similar strategies. The dilemma for the Owners remains the same “to bring the dry-docking date forward or not?”. Being in the same position yet again, shipping companies are reacting more conservatively this time around, trying to first exhaust all possibilities to escape from the terrifying regulations. Certificates de-harmonization is one of the proposed solutions.
Together with Owners, Flags, Classification Societies and Port State Controls are also collaborating in parallel. The scene remains blur since instructions by IMO’s last convention (MEPC 70), carried out at the end of October 2016 are once again rolling further down the line the final decision of whether a further postponement should take place or not, decided to be discussed again during the next convention (MEPC 71) that will take place in April next year. Nevertheless, while considering the above, ship repair facilities are expecting a bottleneck closer to the implementation date, feeling uncomfortable to maintain their already offered enormous discounts and exposure to future commitments.
On top of the BWMS, there are other regulations that are also exerting a lot of pressure on proper repair planning. Panama Canal's new, larger locks have forced a lot of Owners to urgently proceed with mooring arrangement modification. This modification can be either take place at the shipyard or afloat at anchorage. Another regulation that is going to shake the current situation a lot is the approaching stricter emission control regulations, which are setting different standards for the engine makers and vessel’s operators. The implementation of a global 0.5 per cent on sulphur emission will be carried out in 2020. Strategic decisions may be taken in advance by Owners on the perspective to use scrubbers or shifting to alternative fuels such as LNG, which may result in major structural and mechanical modifications.
Despite the above speculation, as of now, the second half of the year is about to complete with repairs workload being slack and with strong shipyards keep investing in enhanced repair facilities. Owners are trying to get the full advantage of the excellent prices still offered by repair yards, starting to recognize that the pricing paradise may not last for ever.
Another factor that may impact the price levels offered in the repair sector during next year may be the percentage of those newbuilding shipyards that are now considering getting involved in ship repair business that will actually do so. In the absence of actual contracting, which has dramatically decreased since last year, the number of those shipbuilding yards that decide to get a piece of the ship repair action might actually be substantial to intensify competition significantly.
By Vassilis Vassiliou
Shiprepair 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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Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- White Energy Company Limited
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
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