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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, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
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