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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, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
Monday, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
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- London Commodity Brokers - England
- MS Steel International - UAE
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Indika Energy - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
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