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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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Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Oldendorff Carriers - Singapore
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
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