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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 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- The Treasury - Australian Government
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
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