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Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
 It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repair sector. At that time, in February 2020, COVID existed only in China, where almost all ship repair activities were frozen, just a few days after the first announcement from the Chinese government that the CNY will be postponed till 10th of February. From that day till today, the sector has been challenged in many ways, with different locations being affected every time and in various extents.
The virus spread flow, when was causing a lock-down in one region, the same time was overfilling with massive bookings for ship repairs these regions which were still able to offer such services. Initially, when China was isolated, both Singapore and Arabian Gulf faced a massive demand for drydock slots, which was much greater than what they were able to accommodate. A few weeks later, European and Turkish shipyards seized operations and China has slowly resumed its activities. Nowadays, while China has almost fully recovered from the shortage of the manpower, Singapore and Arabian Gulf are underperforming.
Owners throughout this period have left with fewer options for drydocking their fleet while at the same time must overcome some commonly found difficulties as described below. Due to the travel restrictions, worldwide, Owners do have the only option to attend remotely their ship drydocking. Repairs are being carried out with local superintendents, which are not familiar with Company’s operating norms, while control on the projects is slack with decision making very slow. In addition, by having only a few options from yards under operation, Owners have to eventually select a yard which is usually heavily loaded and, in some cases, do not match ideally to the project in terms of cost, quality or location. A major problem during this time is the uncertainty of the situation during the planning phase. While for many projects, yard’s selection process is correct, when the vessel is arriving to the yard, the criteria may change, and new challenges need to be overcome. Last, source of local service engineers and unnecessary delays in delivery of spare parts are also a common problem to handle. An example describing the extent of the later one, in China, since oversees UTM engineers cannot travel; there is a severe shortage on local UTM companies forcing the competition against the ship Owners.
The greatest challenge is for specialized non-conventional vessels, being repaired in certain areas, where during certain lockdowns, Owners are left with no other options for carrying out their repairs.
Important to mention that COVID outbreak which has resulted to a severe drop in oil prices, has also narrow the price spread between high and low Sulphur heavy fuel oil. This has brought all future scrubber retrofit projects under a big question mark.
While considering the above, leaving ahead the second half of the year which will hopefully coincide with the time when the world will get the virus under control, it is expected to have another wave of ship repairs to fill again most of the yards. This peak is going to be extremely high considering the massive postponements on the repairs during the last 6 months.
By Vassilis Vassiliou
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, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
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Showing 906 to 910 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Planning Commission, India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
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