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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, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
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- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
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