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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, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
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- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
- The University of Queensland
- McConnell Dowell - Australia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- White Energy Company Limited
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
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