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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Petron Corporation, Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
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