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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
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