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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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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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Showing 941 to 945 news of total 6871 |
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- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
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