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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
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