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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, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Australian Coal Association
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
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