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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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Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Latin American Coal - Colombia
- PTC India Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
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