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Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
 Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnessing a huge shock from the spread of the COVID 19 in China. Almost all activities have frozen just a few days after the initial announcement from the Chinese government that the CNY will be postponed till February 10th. From that date till now there is a relative improvement on the work progress inside the shipyards but the main problems remain the same and the performance far behind the expected one.
The main challenges that Owners are experiencing in Chinese shipyards nowadays are delays for all kind of local products and spare parts, either from inland or overseas, which seriously affects delivery times. Repair personnel such as Owner’s representatives, service engineers and officers (i.e. commissioning engineers, specialists, flag and classification societies surveyors) either local or from overseas, are having a huge difficulty moving from their base to the vessel and vice versa. In addition to the above, shipyards are not working in full capacity yet, since workers’ “repatriation” after CNY is very time consuming given the two weeks quarantine time needed prior getting back to work. The positive speculation although, is that full harmonization will take place by mid of March. In addition, all statistics from last week show that the situation in China is now under control, with the new cases affected by the virus to be much reduced compared to the past weeks.
Outside China, there are massive bookings to shipyards in the surrounding region like Korea, Indonesia, Thailand, Philippines and Vietnam. A number of these shipyards were almost absent from the ship repair market for many years, have now revived their operations, while most of them are merely interested in opportunistic profits and not in building up long term relationships. Therefore, Owners in order to protect their interests are minimizing the repairs. Competent yards like those in Singapore were already nearly fully booked for the first half of the year before the virus appearance and therefore are unable to absorb the new wave of demand. There is also a relative increase on the workload for the rest shipyards worldwide, including shipyards in Arabian Gulf and Europe, but with few available slots still existing.
Surprisingly, there are some very few Owners, benefiting from the situation by slotting a ship for minimum scope in China during this period, ignoring the virus and getting the benefit of yards available facilities due to cancellations for simple works.
After the first half of the year, which will hopefully coincide with the time that China will get the virus eliminated, there will be another wave of ship repairs to fill again all the repair facilities. This peak is going to be even higher than the one before, considering also the massive postponements on the repairs given by flags and classification societies during the last 2 months.
Aside from the impact of the COVID 19, the “scrubber retrofit era” seems to be coming to an end with Greek Owners and big container companies planning to complete all retrofits after this summer.
By Vassilis Vassiliou
Ship-repair Broker
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, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
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