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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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Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
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 ...
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- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
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