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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, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
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