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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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Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
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- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
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