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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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Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
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