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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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Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
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- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Interocean Group of Companies - India
- Planning Commission, India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Australian Coal Association
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
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