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