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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, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
Wednesday, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
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- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
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