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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
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- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
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