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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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Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- VISA Power Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
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