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