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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, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
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