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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, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
Friday, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
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- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Planning Commission, India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- MS Steel International - UAE
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
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- Merrill Lynch Commodities Europe
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