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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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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
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