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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, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
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- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
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