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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
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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Showing 2311 to 2315 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
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