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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, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
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