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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, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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