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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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Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
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- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
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