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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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Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Australian Coal Association
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