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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, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
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