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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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Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
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