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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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Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
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Showing 921 to 925 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Australian Coal Association
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
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