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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Planning Commission, India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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