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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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Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- MS Steel International - UAE
- GVK Power & Infra Limited - India
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