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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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Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Central Electricity Authority - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
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