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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Australian Coal Association
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
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