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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, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
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