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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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- OPG Power Generation Pvt Ltd - India
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- Electricity Generating Authority of Thailand
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- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
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- Kumho Petrochemical, South Korea
- Australian Coal Association
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- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Eastern Coal Council - USA
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- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
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- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
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- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
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- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
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- Central Electricity Authority - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
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