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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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Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
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- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
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