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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, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
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