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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, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- White Energy Company Limited
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Australian Coal Association
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
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