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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, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
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- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- The University of Queensland
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- White Energy Company Limited
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