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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, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
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