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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, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
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