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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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Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
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