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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
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