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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- London Commodity Brokers - England
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
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