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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, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
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- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
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