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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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- The Treasury - Australian Government
- PTC India Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Xindia Steels Limited - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
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