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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, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- The University of Queensland
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
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