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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, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Posco Energy - South Korea
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- Borneo Indobara - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
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