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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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Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
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Showing 911 to 915 news of total 6871 |
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- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Planning Commission, India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
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