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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
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