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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, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
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- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
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