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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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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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