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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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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- The University of Queensland
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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