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Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
 Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnessing a huge shock from the spread of the COVID 19 in China. Almost all activities have frozen just a few days after the initial announcement from the Chinese government that the CNY will be postponed till February 10th. From that date till now there is a relative improvement on the work progress inside the shipyards but the main problems remain the same and the performance far behind the expected one.
The main challenges that Owners are experiencing in Chinese shipyards nowadays are delays for all kind of local products and spare parts, either from inland or overseas, which seriously affects delivery times. Repair personnel such as Owner’s representatives, service engineers and officers (i.e. commissioning engineers, specialists, flag and classification societies surveyors) either local or from overseas, are having a huge difficulty moving from their base to the vessel and vice versa. In addition to the above, shipyards are not working in full capacity yet, since workers’ “repatriation” after CNY is very time consuming given the two weeks quarantine time needed prior getting back to work. The positive speculation although, is that full harmonization will take place by mid of March. In addition, all statistics from last week show that the situation in China is now under control, with the new cases affected by the virus to be much reduced compared to the past weeks.
Outside China, there are massive bookings to shipyards in the surrounding region like Korea, Indonesia, Thailand, Philippines and Vietnam. A number of these shipyards were almost absent from the ship repair market for many years, have now revived their operations, while most of them are merely interested in opportunistic profits and not in building up long term relationships. Therefore, Owners in order to protect their interests are minimizing the repairs. Competent yards like those in Singapore were already nearly fully booked for the first half of the year before the virus appearance and therefore are unable to absorb the new wave of demand. There is also a relative increase on the workload for the rest shipyards worldwide, including shipyards in Arabian Gulf and Europe, but with few available slots still existing.
Surprisingly, there are some very few Owners, benefiting from the situation by slotting a ship for minimum scope in China during this period, ignoring the virus and getting the benefit of yards available facilities due to cancellations for simple works.
After the first half of the year, which will hopefully coincide with the time that China will get the virus eliminated, there will be another wave of ship repairs to fill again all the repair facilities. This peak is going to be even higher than the one before, considering also the massive postponements on the repairs given by flags and classification societies during the last 2 months.
Aside from the impact of the COVID 19, the “scrubber retrofit era” seems to be coming to an end with Greek Owners and big container companies planning to complete all retrofits after this summer.
By Vassilis Vassiliou
Ship-repair Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- VISA Power Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- The University of Queensland
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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