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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, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
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- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
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