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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, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
Friday, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
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- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
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