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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- VISA Power Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- The University of Queensland
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
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