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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- PTC India Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
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