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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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Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
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- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- VISA Power Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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