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