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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, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
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- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
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