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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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Tuesday, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
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