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