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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, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Parliament of New Zealand
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
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