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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 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
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