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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, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Planning Commission, India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
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