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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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Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
Monday, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
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- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
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