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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, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
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