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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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Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY 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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
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- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Planning Commission, India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
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