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Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
 After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Massive discounts offered by the repair facilities and aggressive commercial strategies are still present, while in most cases a reduced maintenance program is followed by Owners.
Shipping companies show almost no flexibility to the extend of service suggested by repair yards, trying to maximize the efficiency and effectiveness in all repair dilemmas such as deviation cost, way and extend of repairs, dry-docking timing. On the other hand, shipyards are trying and to control contractors’ cost in order to handle this negative downturn by minimizing the overtime cost, while at the same time they are providing sophisticated solutions as an ultimate way to tackle competitiveness. As a result of the above situation was the bankruptcy of well established subcontractors after offering good service for decades. The repair market is also facing a slight increase on the afloat and underwater works that are being carried out at anchorages. This is also the result of accumulated low-level maintenance during the previous years and the softer number of dry-dockings this year.
As far as the Greek market is concerned, Chinese yards remain on top of Owner’s choice. If we divide the Chinese region into three areas – south, middle and north – increase on the Greek share is witnessed in the FUJIAN HUADONG shipyard in south China, the XINYA shipyard in the middle Zhoushan area and SHANHAIGUAN shipyard in the northern part. The remainder of the southern shipyards seem to have focused into more niche markets like gas and oil carriers, with the majority of their customers coming from North Europe. A very common choice for the Greek market remains to the COSCO group of shipyards as well and particularly COSCO Zhoushan. Since the merge of COSCO with CIC CHINA SHIPPING a few months back, there has been no visible change in the repair market. For the time being, both groups are maintaining separate commercial headquarters with COSCO tendering unified for all the shipyards and CIC individually. Saying that, as far as the presence of both companies in the Posidonia exhibition is concerned, both groups were sharing the same booth.
Apart from China, Singapore and MEG shipyards are leading the niche vessels’ repair market. Following the merger of ex ‘Sembawang’ with ex ‘Jurong’, the competition between the two major groups, KEPPEL and SEMBCORP MARINE in Singapore remains fierce, resulting in significant discount from both sides. With the discounted prices offered by Singaporean yards and the overall proven expertise in terms of efficiency, quality and time, this region has also attracted the attention of Owners with conventional types of vessels when projects are free from major steel renewal. In Europe, Turkish shipyards are expanding their dry-docking capacity by purchasing new floating docks, with the millstone of a new VLCC dry-dock, which is doubling the capacity of the existing VLCC docks in the region. Finally, following the Turkish shipyards expansion, a new Brazilian shipyard in Vitoria with facilities to accommodate up to Capesize/Suezmax vessels is about to start its operation heating up the competition within the existing local regime.
Following up on recent trends, we can say that the laying up scheme has faded as a result of dry bulk freights covering marginally their OPEX and most of the laying up anchorages have been getting slimmer. As far as the ratification of the forthcoming ballast treatment regulations is concerned, with the exception of rumors, no solid policy has been announced yet, while the shipping market reaction to such ratification remains disputable.
By Vassilis Vassiliou
Ship-repair 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, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
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