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Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
 Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their fleet based on new parameters compared to the past. Now, COVID restrictions are already adapted and absorbed. Owners are familiar with the raising difficulties and are prepared to manage them.
Owners insist on keeping a very big variety of choices for their repairs in shipyards across the globe, which is assisting them to be protected from unforeseen COVID events. At the same time, they are making their final choice based on parameters which are different case by case.
Some Owners value travel restrictions first. They do want their office personnel to attend their drydocks. In those cases, they are avoiding areas where government approval should be granted for entering the country, and quarantine time are compulsory.
The same applies for specialized projects, where a lot of overseas Service Engineers are required, prompt mobilization when new issues arise and risk for the unforeseen should be kept minimum.
Shipping companies with big fleets have an advantage on those travel restrictions since they could maintain office personnel stationed abroad, where repairs are being carried out, saving quarantine time and travel costs for the superintendents. Other Owners, with more flexibility on who will attend their repairs and those with a relatively young fleet and reduced scope, are choosing based on the prices, vessel’s proximity to the yard, and best performance. Taking into consideration the improved freight for a specific type of vessels, minimum repair time counts, with the least risk of things getting out of control.
From the shipyard’s perspective, those yards specialized in conversions and with a big backlog of projects postponed from previous months, are currently facing a busy schedule, while they are choosing their projects to fit their available slots and manpower. Those are the shipyards less flexible on adjusting prices to the competition.
On the other hand, Chinese shipyards, representing the most popular choice for ship repairs, are facing a relatively slack program. The main reason is that the Chinese government is very strict in accepting foreigners and therefore most of the repairs must be carried out without office representatives. This restriction is keeping away all the Owners with complicated repairs where a lot of overseas service engineers should attend and only a skeleton office personnel could travel. In addition to that, the lack of massive conversion projects, such as scrubber retrofits we had a year ago, also worsen the situation, since yards are hardly exceeding their capacities. As a result, Chinese shipyards have become more competitive, trying to attract as many projects as possible, boosting the competition further. For Owners this a good chance of getting good service at a low cost.
Unfortunately, the bottom line is that with all the COVID restrictions in place, regulations, formalities, and quarantine time, there is a large amount of manpower for each ship repair wasted with superintendents, office reps, service engineers waiting standby or in quarantine or cancelled at last moment due to sudden changes. All of the above represent a big cost which instead of being invested on each ship is wasted unproductively.
By Vassilis Vassiliou,
Interyards
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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Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- The University of Queensland
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
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