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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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Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
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- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
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