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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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- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
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