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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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Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- The University of Queensland
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
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