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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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Thursday, 30 January 20
CAPE: WITH CHINESE NEW YEAR TAKING PLACE, THE RATES ARE REACHING FURTHER DISAPPOINTING LEVELS - FEARNLEYS
Cape
With Chinese New Year taking place, the rates are reaching further disappointing levels. Present TC average is below USD 4,500, off 24% fr ...
Wednesday, 29 January 20
INDONESIA REMAINS AT THE TOP SPOT IN 2019 AS THE LARGEST SUPPLIER OF COAL TO INDIA WITH 91.3 MLN TONNES - BANCHERO COSTA
Despite repeated promises from India’s government to reduce the country’s coal imports and increase domestic self-reliance, volumes jus ...
Wednesday, 29 January 20
MARKET INSIGHT - INTERMODAL
Last week Libya’s oil production operations were disrupted as it was reported that local Libyan tribes interrupted output at the the El Feel ...
Tuesday, 28 January 20
INDONESIA - UNCERTAINTY OVER AVAILABILITY OF LSFO - THE STANDARD CLUB
The club has received reports that low sulphur fuel is not currently readily available in all Indonesian ports and that there are local shortages.
...
Sunday, 26 January 20
SUPRAMAX: THE ASIAN BASIN SAW A 56,000DWT SHIP FIXING DELIVERY SAMARINDA TRIP TO WEST COAST INDIA AT $4,750 - BALTIC BRIEFING
Capesize
The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chin ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- The University of Queensland
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
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