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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, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
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