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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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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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