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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
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