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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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Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
Thursday, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
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- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- PTC India Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
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