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Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
 Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their fleet based on new parameters compared to the past. Now, COVID restrictions are already adapted and absorbed. Owners are familiar with the raising difficulties and are prepared to manage them.
Owners insist on keeping a very big variety of choices for their repairs in shipyards across the globe, which is assisting them to be protected from unforeseen COVID events. At the same time, they are making their final choice based on parameters which are different case by case.
Some Owners value travel restrictions first. They do want their office personnel to attend their drydocks. In those cases, they are avoiding areas where government approval should be granted for entering the country, and quarantine time are compulsory.
The same applies for specialized projects, where a lot of overseas Service Engineers are required, prompt mobilization when new issues arise and risk for the unforeseen should be kept minimum.
Shipping companies with big fleets have an advantage on those travel restrictions since they could maintain office personnel stationed abroad, where repairs are being carried out, saving quarantine time and travel costs for the superintendents. Other Owners, with more flexibility on who will attend their repairs and those with a relatively young fleet and reduced scope, are choosing based on the prices, vessel’s proximity to the yard, and best performance. Taking into consideration the improved freight for a specific type of vessels, minimum repair time counts, with the least risk of things getting out of control.
From the shipyard’s perspective, those yards specialized in conversions and with a big backlog of projects postponed from previous months, are currently facing a busy schedule, while they are choosing their projects to fit their available slots and manpower. Those are the shipyards less flexible on adjusting prices to the competition.
On the other hand, Chinese shipyards, representing the most popular choice for ship repairs, are facing a relatively slack program. The main reason is that the Chinese government is very strict in accepting foreigners and therefore most of the repairs must be carried out without office representatives. This restriction is keeping away all the Owners with complicated repairs where a lot of overseas service engineers should attend and only a skeleton office personnel could travel. In addition to that, the lack of massive conversion projects, such as scrubber retrofits we had a year ago, also worsen the situation, since yards are hardly exceeding their capacities. As a result, Chinese shipyards have become more competitive, trying to attract as many projects as possible, boosting the competition further. For Owners this a good chance of getting good service at a low cost.
Unfortunately, the bottom line is that with all the COVID restrictions in place, regulations, formalities, and quarantine time, there is a large amount of manpower for each ship repair wasted with superintendents, office reps, service engineers waiting standby or in quarantine or cancelled at last moment due to sudden changes. All of the above represent a big cost which instead of being invested on each ship is wasted unproductively.
By Vassilis Vassiliou,
Interyards
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, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- White Energy Company Limited
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