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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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- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
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