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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
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