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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, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- PTC India Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
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