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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, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
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- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
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