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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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
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- Indonesian Coal Mining Association
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- Mercator Lines Limited - India
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- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
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- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
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- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
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