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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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Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
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