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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, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- The University of Queensland
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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