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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, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- The University of Queensland
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
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