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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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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
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