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Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
 Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling the repair market and not letting it to stabilize. As we have seen in similar situations, any disruption on the ship repair market has an immediate effect to shipyard’s available slots, costs, and repair time.
Taking into consideration also the elevated dry bulk freight market, the pressure of the shipping companies to perform is tremendous. Therefore, they are trying to control the ship repairs to the maximum extent possible, to avoid pit holes and last moment changes. A task which is almost impossible following the changing dynamics of COVID.
One of the greatest disruptions we experienced in the ship repair sector lately was the regulations adapted by the shipyards in Zhoushan area in China. A sudden decision caused mainly due to the outbreak of the Delta variant of COVID in India. From end May till beginning July, all the yards located to Zhoushan area adapted so strict regulations which practically have rejected without prior notice most of the vessels already fixed to enter the yards for scheduled repairs. This reaction, apart from great inconvenience and losses caused to the Owners, resulted in vessels staying idle for a couple of days waiting for decisions, vessels deviating, in order to reschedule their repairs and ultimately created a very high demand and consequently overbooking on the rest of the shipyards in China with more relaxed measures.
This is only a fraction of the last-minute regulations we encountered this year, but is a very good example to evaluate the consequences they have in the ship repair market. On the one hand, we have a severe waste of vessel’s operational time for Owner’s side and waste of resources and manpower for the yard’s side. And on the other hand, we have a competitive disadvantage for the yards in specific areas and on the same time a huge demand to the yards in areas with looser regulations. This is a phenomenon we go through very often during the COVID era and has indisputably damaged a lot of entities being on the wrong side.
Trying also to dig out a positive impact of COVID. Besides the facts and the day-to-day challenges shipowners and shipyards are facing, both are now more matured from the pandemic. We have noticed a deep cultural change on the working pattern, crisis management and decision making. Both Owners and Shipyards are prepared for random changes and sudden problems to all directions. With different principals in place, all Owners have built up their resilience to new changes and they are ready to find amicable solutions to promote their businesses no matter how tough the problem to overcome is.
Apart from COVID, it’s been almost 2 years from the first massive wave of scrubber retrofits. Now we do have a complete picture of the scrubber installation problems which now have sufficient time in operation. Corrosion on the overboard pipe for example is a very common defect we met in most of the retrofits. Those systems will add some routine inspections and works to be done on the forthcoming scheduled dockings of those vessels.
Finally, trying to speculate the impact on the ship repair sector of the latest MEPC 76 session carried out and particularly the reduction of GHG Emissions from shipping, we believe there is no effect on the ship repair sector for the time being and we will not see the need of new retrofits and modifications which will affect the repair yards on the existing fleet very soon.
By Vassilis Vassiliou,
Interyards
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
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