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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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Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- Interocean Group of Companies - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Minerals Council of Australia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
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