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