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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Planning Commission, India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
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