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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, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
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- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Interocean Group of Companies - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
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