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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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