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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Economic Council, Georgia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
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