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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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- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
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