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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, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
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- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
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