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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
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