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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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Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Australian Coal Association
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
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