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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, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
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