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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, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
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