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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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Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- GMR Energy Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
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