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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, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
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