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Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
 It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repair sector. At that time, in February 2020, COVID existed only in China, where almost all ship repair activities were frozen, just a few days after the first announcement from the Chinese government that the CNY will be postponed till 10th of February. From that day till today, the sector has been challenged in many ways, with different locations being affected every time and in various extents.
The virus spread flow, when was causing a lock-down in one region, the same time was overfilling with massive bookings for ship repairs these regions which were still able to offer such services. Initially, when China was isolated, both Singapore and Arabian Gulf faced a massive demand for drydock slots, which was much greater than what they were able to accommodate. A few weeks later, European and Turkish shipyards seized operations and China has slowly resumed its activities. Nowadays, while China has almost fully recovered from the shortage of the manpower, Singapore and Arabian Gulf are underperforming.
Owners throughout this period have left with fewer options for drydocking their fleet while at the same time must overcome some commonly found difficulties as described below. Due to the travel restrictions, worldwide, Owners do have the only option to attend remotely their ship drydocking. Repairs are being carried out with local superintendents, which are not familiar with Company’s operating norms, while control on the projects is slack with decision making very slow. In addition, by having only a few options from yards under operation, Owners have to eventually select a yard which is usually heavily loaded and, in some cases, do not match ideally to the project in terms of cost, quality or location. A major problem during this time is the uncertainty of the situation during the planning phase. While for many projects, yard’s selection process is correct, when the vessel is arriving to the yard, the criteria may change, and new challenges need to be overcome. Last, source of local service engineers and unnecessary delays in delivery of spare parts are also a common problem to handle. An example describing the extent of the later one, in China, since oversees UTM engineers cannot travel; there is a severe shortage on local UTM companies forcing the competition against the ship Owners.
The greatest challenge is for specialized non-conventional vessels, being repaired in certain areas, where during certain lockdowns, Owners are left with no other options for carrying out their repairs.
Important to mention that COVID outbreak which has resulted to a severe drop in oil prices, has also narrow the price spread between high and low Sulphur heavy fuel oil. This has brought all future scrubber retrofit projects under a big question mark.
While considering the above, leaving ahead the second half of the year which will hopefully coincide with the time when the world will get the virus under control, it is expected to have another wave of ship repairs to fill again most of the yards. This peak is going to be extremely high considering the massive postponements on the repairs during the last 6 months.
By Vassilis Vassiliou
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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Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
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Showing 906 to 910 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
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