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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, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
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- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
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