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