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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, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
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