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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, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Planning Commission, India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
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