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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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Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Parliament of New Zealand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Planning Commission, India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Australian Coal Association
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
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