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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
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