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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
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