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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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Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
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- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
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