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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, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
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Showing 1141 to 1145 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
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